Frontier Group Holdings, Inc. (ULCC) saw its shares soar 5.03% in intraday trading on Monday, following positive analyst actions and raised price targets on the back of the company's strong fourth-quarter results and outlook.
Barclays maintained its Overweight rating on ULCC and raised its price target from $10 to $14, citing the company's impressive performance and growth prospects. Bank of America Securities, meanwhile, reiterated its Hold rating on the stock.
The upbeat analyst commentary and higher price targets reflect Frontier's solid financial results and optimistic guidance, which has boosted investor confidence in the ultra-low-cost carrier's ability to capitalize on the recovering travel demand and expand its market share.
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